The Match Group will also face stiff competition from other key listed players like Spark Networks and. Hinge, on the other hand, skipped the IPO entirely, instead relying on raising capital from venture capitalists. Zoosk filed for an IPO in April 2014, but withdrew the application in May 2015. It's an exciting time for the industry, but dating services haven't always done well on Wall Street. I've long felt that as entities grow into size and maturity it's healthy to give them separation and independence from a mother church." Or, as Chariman and Senior Executive Barry Diller colorfully put it, “I'm not a believer in simply agglomerating assets in perpetuity. The hope with separating the Match Group, and combining more established businesses (like Match and Meetic) with earlier stage businesses (like Tinder), is that the move will lead to significant cash flow generation and meaningful growth potential. Reports say Match Group’s revenues are expected to increase 18% in 2015, bringing the number to $1.24 billion. Last quarter, The Match Group reported revenues of $239.2 million, marking an increase of 13% on a year-over-year basis.
IAC/InteractiveCorp is a $6 billion media conglomerate, and revenue of the new Match Group accounted for nearly one third of IAC's total revenue in the most recent quarter. So far, the ticker symbol (the three-or-four letter identifications that represent companies on stock exchanges) is unknown. The IPO is expected to be completed in the fourth quarter of this year, after which investors will be able to buy stock in the company. Following the news, shares of IAC rose over 5%.Īccording to the announcement, The Match Group is likely to issue less than 20% of its common stock. The subsidiary will be called The Match Group and will be a publically traded company. IAC/InterActiveCorp announced recently that, Tinder, OkCupid, and other dating services would become part of their own spinoff unit. If only all breakups ended as well as this one. Match Group Rolling Out Scam Prevention Campaign in Wake of Growing Problem
Match Group is betting big on Wu, who brings an impressive background with developing one of the earliest revenue streams for Snap, as well as developing Snap’s primary social engagement driver. Swindler was promoted from his position as CFO and COO and Wu joins from Snap Inc., where he oversaw the commercialization of Snap’s developer platforms and spearheaded the creation of its most famous features like “Discover” and the “Chat” messaging feature, as well as Snap’s social gaming feature. Match Group has named new key executives, including its first CTO and a new President and CFO, as well as a new focus on four key businesses – Tinder, Hinge, Asia and Evergreen & Emerging.Īccording to the company’s press release, Gary Swindler was named to the top position of Match Group as President and CFO, and Will Wu joins as chief technology officer, a newly created position, to oversee product innovation across all apps.
0 kommentar(er)
